The aerospace and defence sectors are on song, helped by strong sales to China and spending growth in the United States under President Trump. That’s good news for Meggitt, the international engineer that supplies both industries and which at its half-year results last month announced both a healthy increase in revenues and an upgrade to its guidance for growth for the rest of the year.
Indeed, thanks to a series of earnings upgrades last year that have put some serious wind underneath Meggitt’s shares, this month the group will be able to boast membership of the FTSE 100, the index of London’s leading shares that it exited unceremoniously four years ago in the wake of a profit warning.
Meggitt was founded in Halifax in 1947